Zymeworks Inc. (NYSE:ZYME) Receives $21.00 Consensus PT from Brokerages

Shares of Zymeworks Inc. (NYSE:ZYME) have earned a consensus recommendation of “Moderate Buy” from the eight research firms that are currently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $21.00.

Several research firms have recently weighed in on ZYME. Lifesci Capital initiated coverage on shares of Zymeworks in a research note on Tuesday, March 11th. They issued an “outperform” rating and a $30.00 target price for the company. Citigroup boosted their target price on shares of Zymeworks from $18.00 to $19.00 and gave the company a “buy” rating in a report on Friday, March 7th. Finally, HC Wainwright increased their target price on Zymeworks from $12.00 to $13.00 and gave the stock a “neutral” rating in a research report on Monday, March 10th.

Insider Buying and Selling at Zymeworks

In other Zymeworks news, Director Ecor1 Capital, Llc purchased 320,690 shares of the stock in a transaction on Tuesday, March 11th. The shares were purchased at an average price of $11.49 per share, with a total value of $3,684,728.10. Following the acquisition, the director now directly owns 16,040,851 shares in the company, valued at approximately $184,309,377.99. The trade was a 2.04 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders bought a total of 1,350,347 shares of company stock valued at $16,137,499 in the last three months. Company insiders own 1.92% of the company’s stock.

Institutional Investors Weigh In On Zymeworks

Institutional investors and hedge funds have recently bought and sold shares of the stock. Sterling Capital Management LLC grew its stake in Zymeworks by 781.5% in the 4th quarter. Sterling Capital Management LLC now owns 1,719 shares of the company’s stock worth $25,000 after buying an additional 1,524 shares in the last quarter. CWM LLC grew its position in Zymeworks by 1,091.2% in the first quarter. CWM LLC now owns 2,299 shares of the company’s stock worth $27,000 after acquiring an additional 2,106 shares in the last quarter. AlphaQuest LLC grew its position in Zymeworks by 480.2% in the fourth quarter. AlphaQuest LLC now owns 2,808 shares of the company’s stock worth $41,000 after acquiring an additional 2,324 shares in the last quarter. GAMMA Investing LLC increased its stake in Zymeworks by 1,113.3% in the first quarter. GAMMA Investing LLC now owns 6,467 shares of the company’s stock valued at $77,000 after acquiring an additional 5,934 shares during the last quarter. Finally, BNP Paribas Financial Markets purchased a new stake in Zymeworks during the fourth quarter valued at about $108,000. 92.89% of the stock is owned by hedge funds and other institutional investors.

Zymeworks Stock Performance

ZYME stock opened at $12.96 on Friday. The stock has a fifty day moving average of $12.01 and a 200-day moving average of $13.50. Zymeworks has a fifty-two week low of $8.21 and a fifty-two week high of $17.70. The company has a market capitalization of $901.72 million, a price-to-earnings ratio of -8.64 and a beta of 1.24.

Zymeworks Company Profile

Zymeworks Inc, a clinical-stage biopharmaceutical company, discovers, develops, and commercializes biotherapeutics for the treatment of cancer. The company’s lead product candidates include zanidatamab, a human epidermal growth factor receptor 2 (HER2) that is in Phase 1, Phase 2, and Phase 3 clinical trials, including certain ongoing pivotal clinical trials; and zanidatamab zovodotin, a HER2 -targeted antibody-drug conjugate that is in Phase 2 clinical trial for the treatment of advanced or metastatic HER2-expressing tumors.